The volatility follows at least 13 attacks on shipping vessels in three days, including the fire of the crude carrier GEM NO.2 off the UAE and the US Navy's disabling of the Ocean Molica. While US Energy Secretary Chris Wright reports that Middle East crude flows, excluding Iran, have recovered to 80-90% of pre-war levels, refined product shipments remain at just 25-30%. Recent transits averaged 12-13 million bpd over the past two weeks, following a September 24 peak of 16.2 million bpd.
Wednesday, October 21, 2026
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Hormuz Oil Flows Fall to 8-9 Million BPD as Ship Attacks Surge
Commodities8 days ago
Shipments of oil through the Strait of Hormuz are projected to dwindle further to between 6 and 7 million bpd over the next 10 days, analysis from HFI Research shows. Current flows have fallen to roughly 8-9 million bpd, down from a previous range of 13-14 million bpd. Despite this decline, energy traders view the recent disruptions as transitory and maintain that there is no material panic in the physical market yet.
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